As October nears its end, the Social Security Administration (SSA) readies itself to disburse payments to its beneficiaries. The SSA, as per its official data, issues nearly 70 million payments monthly, primarily benefiting retired individuals. The specific amount varies based on multiple factors, but in 2023, the average payment for retired individuals stands at $1,827.
The disbursement date hinges on the beneficiary’s date of birth. Individuals born from the 1st to the 10th receive their payments on the second Wednesday of the month. Those born between the 11th and the 20th receive it on the third Wednesday, while individuals born from the 21st to the 31st receive their checks on the fourth Wednesday.
However, recipients of Supplemental Security Income (SSI) and those who retired before May 1997 follow a distinct schedule. They receive their payments on the first day of the month, irrespective of their date of birth.
$1,800 Social Security checks: exact mailing dates in November 2023
Taking into account the average payment that SSA beneficiaries receive, here are the exact shipping dates for Social Security checks which average $1,800:
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Payments to increase in 2024
In 2024, the average payment for a retired worker will increase to $1,885 thanks to the increase in the Cost of Living Adjustment (COLA) of 3.2 percent.
The increase in the COLA is the result of an attempt to equalize the amount of the checks and current inflation. In this way, the SSA prevents beneficiaries from losing their purchasing power when inflation is high. This increase will come into effect in December, and increased payments will begin to be issued in January 2024.